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Recently, a few trading partners have expressed concern that Macrolife Export Company Limited has not fully fulfilled the obligations committed in the business cooperation contract. Specifically, this company has agreed on the payment schedule as well as compliance with the terms of the contract. Faced with this situation, we recommend that potential parties carefully consider their partner’s contract enforcement capacity before cooperating with this business. Failure to properly fulfill contractual obligations and lack of professionalism in business will affect the reputation and image of Vietnamese businesses, especially in international transactions.
On June 26, 2023, Helena Company, JSC (Helena Coffee Vietnam) successfully signed a contract to supply the product ARABICA COFFEE DRIED PROCESSED GREEN BEANS S18 with a total contract value of up to 12,000 USD. According to the contract, Helena Coffee Vietnam provides products for the joint venture between TAM DA JOINT STOCK COMPANY and MACROLIFE COMPANY , the two units will be in charge of exporting this shipment to the Chinese market for the final customer LIAONING PILOT FREE TRADE ZONE YURONG WAREHOUSING CO., LTD. .
Delivery contract that signed by Mr. Tran Quoc Hoang
During the order processing process, Helena Coffee Vietnam quickly completed related procedures and provided maximum support to customers. Notably, Helena has agreed to pay after the goods arrive at the partner, while normally agricultural export businesses require 100% payment before the goods leave the warehouse. This shows Helena’s flexibility and high goodwill in supporting customers Tam Da Joint Stock Company and Macrolife Company to successfully complete this commercial transaction.
Helena Coffee Vietnam quickly completed related procedures and provided maximum support to customers
After completing the transaction, the final customer LIAONING PILOT FREE TRADE ZONE YURONG WAREHOUSING CO., LTD has confirmed with Helena that it has paid the full amount to Macrolife Company according to the agreement. However, Macrolife Company has not fulfilled its obligation to pay the amount of goods committed in the original contract with Helena Coffee Vietnam. This is a violation of the terms of the signed business contract, affecting Helena’s rights and reputation.
Macrolife Company has not fulfilled its obligation to pay the amount of goods committed in the original contract with Helena Coffee Vietnam.
After receiving feedback from the final customer about full payment to Macrolife Company, Helena repeatedly contacted Macrolife Company to request payment obligations according to the original contract. However, Macrolife Company and its partner Tam Da Company have delayed many times, giving unconvincing reasons such as: announcing a transfer but not making it, making an appointment to pay but not showing up, requesting payment. multi-stage payment while the total order value is only about 12,000 USD . This causes disadvantages and loss of trust for Helena with related parties.
Macrolife Company announced the transfer but did not make it
Macrolife Company once claimed to be a large rice exporter with an annual volume of more than 250,000 tons , and was introduced in the media of the People’s Committee of Soc Trang province , a locality in the leading group in the country. on rice yield. However, in this case, with the contractual payment amount of only about 12,000 USD, Macrolife Company failed to comply with its payment commitment to partner Helena Coffee. This raises questions about the capacity and reputation of businesses in executing commercial transactions.
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We clearly understand the negative impact of the global economic context on production and business activities. However, violations of contractual commitments like the case of Macrolife Company also contribute to reducing trust in trade. As a business that always strives to be transparent, comply with the law and operate according to fair ethics, we strongly condemn Macrolife Company’s breach of contract. This is also a warning for potential partners to consider their partner’s contract enforcement skills before cooperating.
If this situation continues to happen, Macrolife will lose the trust of its partners as well as the opportunity for future cooperation with foreign businesses . Businesses need to seriously and promptly overcome the problem to maintain brand reputation, as well as need to be clearly aware of their role in fulfilling contractual obligations, as well as sustainably developing business activities in the future.
Chau Thanh District People’s Committee worked with investor Macrolife Limited Liability Company
Article link: https://soctrang.gov.vn/Default.aspx?sname=huyenchauthanh&sid=1308&pageid=33327&catid=57711&id=363575&catname=Thong-tin- Kinh-te—xa-hoi&title=People’s Committee-huyen-Chau-Thanh- working-with-dental-investors-company-trach-nhiem-huu-han-Macrolife
Company information of this company:Company name: MACROLIFE LIMITED
International name: MACROLIFE COMPANY LIMITED
Tax code: 0317317493
Address : 860/60d/7 Xo Viet Nghe Tinh, Ward 25, Binh Thanh District, Ho Chi Minh City, Vietnam
Representative: Mr. NGUYEN MINH DAT
Phone: +84 913910999
Operation day: 2022-05-30
Managed by: Ho Chi Minh City Tax Department
BRANCH OF MACROLIFE LIMITED
Tax code:0317317493-001
Tax address:290 Tran Hung Dao, Ward 10, Soc Trang City, Soc Trang
Legal representative: Huynh Van Thang
Phone:0904045906
Business registration license of Macrolife company